Is Snapchat really worth $19 billion?

Snapchat, the mobile messaging app, is seeking funding at a $19 billion valuation, according to a report from Bloomberg. Snapchat is aiming to raise $500, making it the third most highly-valued tech startup backed by venture capitalists.

By
Cadie Thompson, CNBC /
February 18, 2015

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A man walks past Snapchat's headquarters in Venice, Los Angeles Calif. According to reports, the mobile messaging app is seeking a valuation of up to $19 billion.

Lucy Nicholson/Reuters/File

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The mobile messaging app Snapchat is said to be seeking funding at a $19 billion valuation, according to a report, citing a person with knowledge of the matter.

Bloomberg is reporting that the Los Angeles-based company is aiming to raise $500 million at a valuation of $16 billion to $19 billion, making it the third most highly valued tech start-up backed by venture capitalists. The Chinese handset maker Xiaomi is valued at $45 billion, while Uber is estimated to be valued at about $40 billion, according to data from CB Insights.